Indoor & Outdoor LED Signs – Digital Signage – LED Displays – Electronic Signs

Please, read carefully the following terms and conditions governing Grandwell's credit policy and procedure. These terms and conditions may change at any time and without notice. If Applicant does not agree with these terms, contact Grandwell to discuss modifications. Any modifications must be done in writing and signed by both a representative of Grandwell and the Applicant.

1. General

Grandwell values our customers highly and we expect that our customers should value us equally as a quality vendor. In order for Grandwell to constantly improve our level of quality, service, and value to you, we require all of our customers to pay for goods and service promptly. The following standard rules apply to all customers.

Terms

Description

30/70

All customers that have never conducted business with Grandwell and/or do not have credit are on a "Cash in Advance" term. Customers must provide a thirty percent (30%) deposit to place an order into production. The remaining seventy percent (70%) balance is due prior to order shipment.

NET 30

Unless otherwise stated, all invoices are payable net thirty (30) days from the date of the invoice. Customers must promptly pay the remaining balance of the invoice within thirty (30) days from the date of invoice.

Credit Hold

Any invoice, sixty (60) days of age, is automatically placed on credit hold. Any existing orders will not be released and new orders will not be accepted until delinquent invoices are cleared up.

2. Qualification

Customers that consistently demonstrate ability to successfully pay for good and services of a net amount exceeding $60,000 USD over a period of four (4) months are qualified to apply for a line of credit. Organizations affiliated with the government, such as public schools, military, NGO, etc. are automatically qualified. Credit is currently not available for international customers. If the customer does not meet the requirements for credit extension, the principle or owner of the organization may sign a Personal Guaranty in lieu of the requirement. However, a Personal Guaranty does not guarantee credit.

3. Application

Qualified customers are required to submit, complete and sign a credit application. The information will be used to determine extending credit and the amount. Credit checks are conducted through Dun and Bradstreet. Grandwell will hold all submitted financial information in the strictest of confidence. If credit is denied, any balance must be paid in full prior to shipment.

4. Maintenance

Invoices are generated when products are shipped and mailed to customers via either first class postal mail or electronically. Statements are generated and sent out on the fifteen (15^th) of each month. Accounts that are inactive for at least four (4) months from last product shipped will be terminated. To reactivate account, customer must follow the credit qualification and application process again. Grandwell may periodically check customer's credit worthiness without notification to ensure proper credit level. In addition, Grandwell reserves the right to cancel credit extension to any customer for any reason without notice.

5. Delinquency

Unless otherwise stated, all invoices are payable net thirty (30) days from the date of the invoice. After thirty (30) days, unpaid invoices are marked PAST DUE. After sixty (60) days, the account is placed on CREDIT HOLD and marked DELINQUENT. After ninety (90) days, credit privileges are terminated. Interest charges will be assessed on all invoices not paid within the specified terms at a rate of 1.5% per month or an annual rate of eighteen percent (18%). All delinquencies will be reported to credit bureaus and placed with our collection service. Customers will be liable for any court costs, attorney's fees and legal associated with collection of delinquent invoices. A fifty-dollar ($30 USD) charge will be assessed for all checks returned for "Not Sufficient Funds" (NSF). Return checks will cause account to be placed on a "Cash In Advance" status.

6. Guarantee